When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.
Friedrich August von HayekThe curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
Friedrich August von HayekThe Nobel Prize confers on an individual an authority which in economics no man ought to possess.
Friedrich August von HayekWith the exception only of the period of the gold standard, practically all governments of history have used their exclusive power to issue money to defraud and plunder the people.
Friedrich August von HayekWithout the rich - without those who accumulated capital - those poor who could exist at all would be very much poorer indeed, scratching a livelihood from marginal lands on which every drought would kill most of the children they would be trying to raise.
Friedrich August von HayekIt is only because the majority opinion will always be opposed by some that our knowledge and understanding progress. In the process by which opinion is formed, it is very probable that, by the time any view becomes a majority view, it is no longer the best view: somebody will already have advanced beyond the point which the majority have reached. It is because we do not yet know which of the many competing new opinions will prove itself the best that we wait until it has gained sufficient support.
Friedrich August von Hayek